THE AIB Enterprise Loan Scheme is to be expanded in size, from £40 million to £60 million, the bank has announced.

Under the scheme, promoters do not have to provide personal guarantees or pledge the family home as security for business advances. The scheme provides loans to start up and early stage companies at competitive rates. To date, £34 million has been lent to more than 300 projects, helping to create and secure more than 3,800 jobs.